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20110701
20110731
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, adding jobs, and creating new opportunities. we are not seeing that, in part, because of the big overhang of foreclosed homes, which are weighing on prices. it is a vicious circle. people do not want to buy because prices are falling and prices are falling because people do not want to buy. there are a number of things we are doing. we are keeping mortgage rates globe. -- keeping mortgage rates low. this works to try to modify mortgages. i think it is worth looking at that area. one area where more work needs to be done is housing finance. we have not begun to clarify for the market out housing finance will be conducted in the future. another area i suggest he might think about is the overhang of distressed houses. for example, fanny, freddie, and the bank's own about half a million homes right now, which are basically sitting there on the market and which are pressing down prices and reducing appraisals and making the housing market much weaker than it otherwise would be. that is another area to look at. i agree with you that the housing market is, in some sense, the epicenter of the pro
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